A US district judge has rejected the requests of crypto exchange Gemini and crypto lender Genesis to dismiss a case initiated by the SEC concerning the Gemini Earn program. Judge Edgardo Ramos found that the SEC "plausibly alleged" that both parties offered and sold unregistered securities. Genesis and Gemini were first charged by the SEC in January 2023.

Gemini has returned $2.18 billion worth of digital assets to its Earn users, comprising ~97% of the assets owed, marking a 232% recovery since Genesis suspended withdrawals. Gemini has achieved an unprecedented recovery in crypto bankruptcies following its settlement with Genesis and other creditors, ensuring its users will eventually recoup all their assets along with any appreciation.

On October 1, Cointelegraph reported that the cryptocurrency exchange Gemini announced it would be closing all customer accounts in Canada by December 31. This decision was communicated to Canadian users via an email sent on September 30. The closure comes in the wake of new regulations introduced by financial authorities in Canada that govern crypto exchanges and trading platforms operating within the country. The move by Gemini reflects the increasing regulatory scrutiny faced by cryptocurrency platforms, which has led to significant changes in how these businesses operate in various jurisdictions. The implications of such regulatory actions can be profound, affecting not only the exchanges but also the users who rely on these platforms for trading and investment. In a broader context, the cryptocurrency landscape is continually evolving, with various developments and challenges emerging regularly. For instance, discussions around Ethereum's security have gained traction, particularly regarding the role of solo stakers in maintaining decentralization and protecting the network from potential attacks. Additionally, ongoing legal battles, such as the SEC's lawsuit against Ripple, highlight the complexities of classifying digital assets and the potential impacts on market dynamics. The situation with Telegram's founder, who was arrested in France, further illustrates the intersection of technology, law, and regulation in the crypto space. As the industry navigates these challenges, the importance of understanding regulatory frameworks and their implications for both exchanges and users becomes increasingly critical. The developments in Canada with Gemini serve as a reminder of the fluid nature of the cryptocurrency market and the need for stakeholders to stay informed and adaptable.